(III.)-(V.) ECONOMIC INSTITUTIONS, STATE INSTITUTIONS (Philippines), And INTERNATIONAL ORGANIZATIONS

Market Economy

An economic system that uses money and supply/demand principles, often associated with capitalism.

Non-Market Economy

An economic system that relies on barter, reciprocity, or government control.

Primary Economic Sector

Involves extraction and harvesting of raw materials, such as farming and mining.

Secondary Economic Sector

Involves the manufacturing and processing of goods.

Tertiary Economic Sector

Involves the provision of services, such as business process outsourcing (BPO) and retail.

Banks

Financial institutions that lend money to promote productivity.

Corporations

Profit-driven entities that also maintain a sense of social responsibility.

Trade Unions

Organizations that advocate for workers' rights, often through collective bargaining agreements.

Cooperatives

Member-owned entities that operate for the benefit of their members, such as credit unions.

DepEd

The Department of Education in the Philippines that manages the education system.

DOH

The Department of Health in the Philippines that oversees health policies.

DILG

The Department of the Interior and Local Government responsible for local governance in the Philippines.

PNP

The Philippine National Police, responsible for maintaining peace and order.

SSS

Social Security System in the Philippines that provides social security for workers.

UN

United Nations, an international organization focused on peacekeeping and global cooperation.

WHO

World Health Organization, an international organization that focuses on global health.

WTO

World Trade Organization, responsible for regulating international trade.

IMF

International Monetary Fund, provides financial assistance and is criticized for transparency issues.

World Bank

An international financial institution that offers development funding and is often criticized for its transparency.